BenQ shuts down Siemens handset division
Siemens’ former handset division suffered its last gasps over the weekend, as its previous and current owners lobbed responsibility for the phone unit back and forth.
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Last week BenQ, the Taiwanese gadget maker that bought the division last year, filed declared the business insolvent in Germany, saying it could not pump any more capital into the German subsidiary to make it profitable. Today Siemens stepped in with Euro 5 million to pay for job training for its 3000 former employees. The money comes from an executive pay hike, Siemens said it would defer one year.
While BenQ will continue Taiwan manufacturing of phones, multimedia devices, music players, but it is shutting down the German operations completely after BenQ said it recorded Euro 600 million ($760 million) in losses over the last year.
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